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Economic Measurement of Capital and Profitability

Author

Listed:
  • Francisco JAVIER ESCRIBÁ-PÉREZ

    (Universitat de València)

  • José RAMÓN RUIZ-TAMARIT

    (Universitat de València & Université Catholique de Louvain)

Abstract

In this paper, we intend to offer a critical review of the different concepts of capital and the different methods which are used to measure it. At the same time, we propose an endogenous approach which tries to measure the capital stock in terms of value, explicitly referring to depreciation as an economic variable decided by the firm. Applying this procedure to the Spanish macroeconomic data, we observe a big capital destruction since the mid-seventies which is not mentioned in official statistics.

Suggested Citation

  • Francisco JAVIER ESCRIBÁ-PÉREZ & José RAMÓN RUIZ-TAMARIT, 1995. "Economic Measurement of Capital and Profitability," Discussion Papers (REL - Recherches Economiques de Louvain) 1995042, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    • Handle: RePEc:ctl:louvre:1995042
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    Cited by:

    1. Alfonso Herranz Loncán, 2004. "La dotación de infraestructuras en España, (1844-1935)," Estudios de Historia Económica, Banco de España, number 45, November.
    2. F. J. Escribá-Pérez & M. J. Murgui-García & J. R. Ruiz-Tamarit, 2017. "Economic and Statistical Measurement of Physical Capital with an Application to the Spanish Economy," LIDAM Discussion Papers IRES 2017020, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
    3. Escribá-Pérez, F.J. & Murgui-García, M.J. & Ruiz-Tamarit, J.R., 2018. "Economic and statistical measurement of physical capital: From theory to practice," Economic Modelling, Elsevier, vol. 75(C), pages 246-255.

    More about this item

    JEL classification:

    • E22 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Investment; Capital; Intangible Capital; Capacity

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